銘柄情報

Healthcare & Medical Investment Corporation

Healthcare facility REIT sponsored by Sumitomo Mitsui Banking Corporation, SHIP HEALTHCARE HOLDINGS Co., Ltd., a medical care and assistance business, and NEC Capital Solutions Limited, a fund manager, and other companies. It invests in facilities and housing for the elderly, as well as medical-related facilities, among others. By actively drawing on the strengths of the main sponsors, which have expert know-how in their respective fields of medical care and assistance, fund management, and finance, it ensures stable asset management and the expansion of managed assets over the medium to long term.

  • Unit Price and Trading Volume 拡大

  • Unit Yield, Sector Average and Overall Average 拡大

2022/09/14Update

投資指標の計算式について

Investment amount per unit

Unitholders' capital / Number of investment units authorized

NAV per unit

((Unitholders' capital + Investment surplus) + (Portforio assets appraisal value - ortfolio assets book value) / Number of investment units authorized

P/NAV

Investment unit price / NAV per unit

FFO per unit

(Net income + depreciation + profit and loss on real estate) / Number of investment units authorized

P/FFO

Investment unit price / FFO per unit

NOI

Rental business income + depreciation

NOI yield

NOI / Portfolio assets book value

Implied cap rate

NOI / (Market capitalization + (Interest-bearing liabilities - cash on hand and in bank) + Security and guarantee deposits received

Market capitalization

Investment unit price * Number of investment units authorized

LTV

Interest-bearing liabilities / Total assets

DSCR

NOI / (Interest-bearing liabilities at end of previous period - Interest-bearing liabilities at end of current period + current interest expense)

EV / EBITDA

Market capitalization + (Interest-bearing liabilities - cash on hand and in bank) / NOI

Ratio of long-term fixed interest rate

Long-term fixed interest / Interest-bearing liabilities

Corporate Data

Investment Corporation Name Healthcare & Medical Investment Corporation
Abbreviation HCM
Securities code 3455(JPX)
Listing date 2015/03/19
Time elapsed 7.70 year
Closing months January / July
URL http://www.hcm3455.co.jp/
Unitholders' capital 37,712Million JPY
Number of investment units authorized 359,500Unit
Investment amount per unit 104,900JPY
Rating JCR:A+ 
Type of assets under management Healthcare REIT /Paid senior citizen's homes:74.9% Service-outfitted housing for the elderly:6.0% Medical service-related facilities,etc.:2.6% Paid senior citizen's homes・Medical service-related facilities,etc.:16.4%
Management target regions
Tokyo Metropolitan Area:45.0% Kinki Area:37.9% Chubu Area:0%
Number of investment properties 47
Number of tenants 56
Total leasable floor space 219,619.45㎡

Investment Index Information

NAV per Unit 130,498JPY
Unit Price / NAV per Unit 1.48
FFO per Unit 4,596JPY
Unit Price / FFO per Unit 42.06
NOI Yield 3.73%
Implied Cap Rate 2.62%
Market capitalization 69,491Million JPY
Acquisition book value 78,499Million JPY
Term-end book value 78,273Million JPY
Appraisal value 86,364Million JPY
Interest-bearing liabilities 38,650Million JPY
LTV 48.10%
EV / EBITDA 36.44
Average maturity of borrowings 2.6year
Ratio of long-term fixed interest rate
Average occupancy rate 99.9%
Average age of buildings 16.98year

Investment Management Policies

  • The allocation rate of facilities and housing for the elderly (① paid nursing homes, ② serviced housing for the elderly, ③ group homes for elderly persons with dementia, and ④ other facilities and housing for the elderly), as well as healthcare facilities such as medical-related facilities, is 80% or more, and that for other facilities is up to 20%.
    In terms of areas, the three main metropolitan areas (Tokyo metropolitan area, Kinki area, and Chubu area) and other core city areas account for 80% or more of the total, while the other areas account for up to 20%.
  • By using the combined resources of the sponsors and the supporting companies, including expertise and customer bases, as well as the preferential rights set forth in support agreements, it ensures that there will be opportunities for acquiring healthcare facilities in the future. By using the networks of the sponsors and the supporting companies, as well as the unique networks of this asset management company, it ensures the sustained growth of the portfolio, thus aiming to maximize investor value over the medium to long term.

Other Related Corporations

Asset Manager Healthcare Asset Management Co.,Ltd.
Update 2022/09/14 Capital 150Million JPY
Major Shareholders 33.3% SHIP HEALTHCARE HOLDINGS Co.,Ltd. Other Shareholders
33.3% NEC Capital Solutions Limited
5% Sumitomo Mitsui Banking Corporation
4.8% Sumitomo Mitsui Finance and Leasing Company, Limited
4.8% SMBC Friend Securities Co., Ltd.
4.7%
4.7% Ginsen Co., Ltd.
4.7%
4.7% Muromachi Building Co.,Ltd.

Account Settlement InformationFY2022-2(Million JPY)

13th 14th 15th
(most recent)
16th forecast 17th forcast
Revised Date Revised Date
Operating revenue 2,073 2,080 2,371 2,419 2,419
Operating income 1,078 1,072 1,265 1,241 1,251
Ordinary income 922 913 1,101 1,065 1,064
Net income 921 913 1,100 1,064 1,063
Short-term borrowings 7,000 9,250 11,250
Long-term borrowings 24,150 21,900 25,400
Investment corporation bonds 2,000 2,000 2,000
Total assets 68,883 68,778 80,357
Net assets 32,964 32,867 38,800
Distribution per unit 3,266
JPY/per Unit
3,244
JPY/per Unit
3,367
JPY/per Unit
3,484
JPY/per Unit
3,269
JPY/per Unit

Other Affiliated Companies

Asset custodian Sumitomo Mitsui Trust Bank, Limited Accounting auditor PricewaterhouseCoopers Aarata
Accounting services Sumitomo Mitsui Trust Bank, Limited Unitholders registry administrator Sumitomo Mitsui Trust Bank, Limited
Tax administration services Sumitomo Mitsui Trust Bank, Limited Investment corporation bond administrator
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